Chargeback and Refund - what is the difference?

nekrom · 2007-08-22, 09:25 PM

A CB is when a person informs their bank that the charge on their cc wasn't authorised by them. The bank then refunds/credits the charge back to their card. The bank then passes on a CB fine/fee to the company that placed the charge.

A refund is when the company that charged an amount to a persons cc cancels the charge and credits it back to their cc.

-N

NinjaSteve · 2007-08-24, 11:49 AM

Quote:

Originally Posted by nekrom

A CB is when a person informs their bank that the charge on their cc wasn't authorised by them. The bank then refunds/credits the charge back to their card. The bank then passes on a CB fine/fee to the company that placed the charge.

A refund is when the company that charged an amount to a persons cc cancels the charge and credits it back to their cc.

-N

And in the end a refund is better than a cb

2007-08-22, 09:25 PM	#1
nekrom Are you sure this is the Sci-Fi Convention? It's full of nerds! Join Date: Jul 2004 Location: Australia Posts: 263	A CB is when a person informs their bank that the charge on their cc wasn't authorised by them. The bank then refunds/credits the charge back to their card. The bank then passes on a CB fine/fee to the company that placed the charge. A refund is when the company that charged an amount to a persons cc cancels the charge and credits it back to their cc. -N __________________ The afp ownz all your base.